Analysts Set Colfax Corp (NYSE:CFX) PT at $28.59

Shares of Colfax Corp (NYSE:CFX) have been assigned a consensus recommendation of “Hold” from the twenty-one ratings firms that are currently covering the company, MarketBeat reports. Three analysts have rated the stock with a sell rating, five have issued a hold rating and eleven have given a buy rating to the company. The average twelve-month target price among brokerages that have updated their coverage on the stock in the last year is $28.59.

A number of analysts have commented on the stock. Barclays lifted their target price on shares of Colfax from $31.00 to $33.00 and gave the stock an “equal weight” rating in a report on Tuesday, July 7th. Citigroup lifted their target price on shares of Colfax from $18.00 to $21.00 and gave the stock a “sell” rating in a report on Friday, May 8th. Deutsche Bank boosted their price target on shares of Colfax from $19.00 to $30.00 and gave the company a “hold” rating in a report on Friday, May 8th. Zacks Investment Research lowered shares of Colfax from a “hold” rating to a “sell” rating and set a $26.00 price target for the company. in a report on Tuesday, April 28th. Finally, Morgan Stanley boosted their price target on shares of Colfax from $23.00 to $28.00 and gave the company an “equal weight” rating in a report on Friday, May 8th.

CFX traded down $0.84 during trading on Tuesday, reaching $29.08. 1,281,053 shares of the company’s stock were exchanged, compared to its average volume of 781,107. The company’s fifty day moving average price is $28.84 and its 200-day moving average price is $28.63. The company has a debt-to-equity ratio of 0.79, a quick ratio of 1.25 and a current ratio of 1.93. Colfax has a fifty-two week low of $12.23 and a fifty-two week high of $39.30. The firm has a market capitalization of $3.44 billion, a PE ratio of -8.40, a P/E/G ratio of 4.81 and a beta of 1.84.

Colfax (NYSE:CFX) last released its earnings results on Thursday, May 7th. The industrial products company reported $0.38 EPS for the quarter, topping analysts’ consensus estimates of $0.37 by $0.01. Colfax had a negative net margin of 13.62% and a positive return on equity of 8.89%. The firm had revenue of $816.40 million during the quarter, compared to analyst estimates of $790.17 million. During the same quarter in the previous year, the business earned $0.53 EPS. The business’s quarterly revenue was down 19.0% compared to the same quarter last year. Research analysts forecast that Colfax will post 1.17 earnings per share for the current fiscal year.

In other Colfax news, EVP Shyam Kambeyanda sold 14,829 shares of the business’s stock in a transaction dated Thursday, May 14th. The shares were sold at an average price of $22.97, for a total transaction of $340,622.13. Following the sale, the executive vice president now directly owns 57,212 shares of the company’s stock, valued at approximately $1,314,159.64. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, Director Rajiv Vinnakota sold 1,800 shares of the business’s stock in a transaction dated Monday, June 15th. The stock was sold at an average price of $27.44, for a total transaction of $49,392.00. Following the sale, the director now directly owns 21,888 shares in the company, valued at $600,606.72. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 42,829 shares of company stock valued at $1,180,358. Company insiders own 12.00% of the company’s stock.

A number of large investors have recently modified their holdings of CFX. Advisor Group Holdings Inc. bought a new stake in Colfax during the 1st quarter worth about $33,000. Synovus Financial Corp bought a new stake in Colfax during the 1st quarter worth about $55,000. Tower Research Capital LLC TRC bought a new stake in Colfax during the 1st quarter worth about $64,000. Cerebellum GP LLC bought a new stake in Colfax during the 2nd quarter worth about $82,000. Finally, Macquarie Group Ltd. bought a new stake in shares of Colfax in the 4th quarter valued at about $102,000. 99.94% of the stock is currently owned by hedge funds and other institutional investors.

Colfax Company Profile

Colfax Corporation operates as a diversified technology company worldwide. The company operates through Air and Gas Handling, and Fabrication Technology segments. The Air and Gas Handling segment designs, manufactures, installs, and maintains heavy-duty fans, rotary heat exchangers, blowers, and compressors.

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Analyst Recommendations for Colfax (NYSE:CFX)

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